David Brooks writes about the power of American capitalism: “I was especially struck by how much America invests in its own people. America spends roughly 37 percent more per student on schooling than the average for the Organization for Economic Cooperation and Development, a collection of mostly rich peer nations. ChatGPT and mRNA vaccines are not the only signs of American technical prowess. The United States accounts for 22 percent of the patents in force abroad, up from 19 percent in 2004. That’s more than any other nation. The level of education is one reason American labor productivity increased by 67 percent between 1990 and 2022, compared with a 55 percent increase in Europe and 51 percent in Japan. American companies continue to generate amazing value. If in 1990 you had invested $100 in the S&P 500, an index of American companies, you would have about $2,300 today, according to The Economist. If you had invested that $100 in an index of non-American rich-world stocks, you would have about $510 today….The American model of capitalism is under assault from the left, which rails against the supposed horrors of neoliberalism and globalization, and from Tucker Carlson-style populists, who often treat American capitalism as a great betrayal. But it has proved superior to all real world alternatives. In fact, I’m kind of amazed. We’ve lived through a wretched political era. The social fabric is fraying in a thousand ways. But American capitalism rolls on.”
Jason Gay: “As I get older, I realize I need to utterly unplug. My ideas will not come from my phone, a Facebook post or the latest tire fire on Twitter. For me, they come from digital distance, from oxygen and exercise and especially from time spent outdoors. There once was a time I could get ideas from staring at websites, but not anymore. I get them from looking at trees. I know I’m not alone. The science is vast on the value of boredom and the stimulus of fresh air—it’s what opens the brain to sparks of creativity and inspiration. It’s why child psychologists want parents to strip away the iPads and help their children get comfortable offline. Hearing “I’m bored!” should not be a parenting emergency.”
FT writes the never-ending brilliance of board games: “[The] greatest triumph [of Klaus Teuber, who died recently, ] was The Settlers of Catan — now simply Catan — which replaced Monopoly in the affections of anyone who knows anything about board games. “Settlers of Catan changed everything,” says James Wallis, a game designer and author of a new history of board games, Everybody Wins. Players gather resources and trade with one another to build cities on an island. Catan is as simple to learn as Monopoly, but vastly more enjoyable — quicker, more interesting when it’s not your turn, building to a climax rather than a grinding elimination of the weak. There’s no secret ingredient to Catan; it’s just a superbly executed collection of good ideas. “You’re involved with the game at all times but not so much that it demands your complete focus,” adds Wallis, “and although there’s a lot of dice rolling it almost never feels that you’re at the mercy of unfair randomness.””
Morgan Housel: “Once you understand the basic principles of your profession, you might gain more expertise by reading around your field than within your field. Connecting dots between fields helps you uncover the most powerful forces that guide how the world works, which can be so much more important than a little new detail that’s specific to your profession. And I’m telling you: The more you look, the more you start to see these connections everywhere. They are endless. John Muir once said, “When we try to pick out anything by itself we find it hitched to everything else in the universe.””
